Economist

Explore 87 quotes by Economists

Nothing in life is as important as you think it is when you are thinking about it.

Daniel Kahneman

Thinking, Fast and Slow

Buy Thinking, Fast and Slow at Amazon Buy Thinking, Fast and Slow at Amazon

More information about this quote

Topic

Perspective

Author

Daniel Kahneman

Source

Thinking, Fast and Slow

Genre

Psychological literature

Language

English

Time

2011 2010s 21st century

Authentication Score 3

Citation

Kahneman, Daniel. Thinking, Fast and Slow. Farrar, Straus and Giroux, 2011, ch. 38.

Owe your banker 1,000 and you are at his mercy; owe him 1 million and the position is reversed.

John Maynard Keynes

More information about this quote

Topic

Debt Finance

Author

John Maynard Keynes

Statement Type

Paradox

Language

English

Time

1945 1940s 20th century

Authentication Score 1

Original Citation

Keynes, John Maynard. Memo circulated to British War Cabinet. 15 May 1945.

Current Citation

Keynes, John Maynard. "Overseas Financial Policy in Stage III (1945)." The Essential Keynes. Penguin, edited by Robert Skidelsky, 2016.

It will be convenient to have a name for the ideas which are esteemed at any time for their acceptability, and it should be a term that emphasizes this predictability. I shall refer to these ideas henceforth as the conventional wisdom.

John Kenneth Galbraith

The Affluent Society

Buy The Affluent Society at Amazon Buy The Affluent Society at Amazon

More information about this quote

Topic

Majority opinions Conformity Intellectual history

Author

John Kenneth Galbraith

Source

The Affluent Society

Genre

Sociology Economic literature

Language

English

Time

1958 1950s 20th century

Authentication Score 3

Citation

Galbraith, John Kenneth. The Affluent Society. Houghton Mifflin, 1958, ch. 2, sect. 1.

The theory of the Communists may be summed up in the single sentence: Abolition of private property.

Karl Marx

The Communist Manifesto

Buy The Communist Manifesto at Amazon Buy The Communist Manifesto at Amazon
Read The Communist Manifesto at marxists.org

More information about this quote

Topic

Property rights Communism Political theory Politics

Author

Karl Marx

Source

The Communist Manifesto

Medium

Pamphlet

Genre

Political literature Economic literature

Language

German

Time

1848 1840s 19th century

Authentication Score 2

Original Citation

Marx, Karl and Friedrich Engels [published anonymously]. Manifest der kommunistischen Partei [Manifesto of the Communist Party]. London: Gedruckt in der Office der Bildungs-Gesellschaft für Arbeiter, 1848.

Current Citation

Marx, Karl and Friedrich Engels. The Communist Manifesto, translated by Samuel Moore and Friedrich Engels. Penguin Classics, 2002.

There is no art which one government sooner learns of another, than that of draining money from the pockets of the people.

Adam Smith

The Wealth of Nations

Buy The Wealth of Nations Books 4-5 at Amazon Buy The Wealth of Nations Books 4-5 at Amazon
Read The Wealth of Nations at Project Gutenberg

More information about this quote

Topic

Taxes Government

Author

Adam Smith

Source

The Wealth of Nations

Genre

Economic literature

Language

English

Time

1776 1770s 18th century

Authentication Score 2

Original Citation

Smith, Adam. The Wealth of Nations. Vol. 2, London: W. Strahan and T. Cadell, 1776, bk. 5, ch. 2, appendix.

Current Citation

Smith, Adam. The Wealth of Nations, edited by Edwin Cannan. The Modern Library, bk. 5, ch. 2, appendix.

Science is the great antidote to the poison of enthusiasm and superstition.

Adam Smith

The Wealth of Nations

Buy The Wealth of Nations Books 4-5 at Amazon Buy The Wealth of Nations Books 4-5 at Amazon
Read The Wealth of Nations at Project Gutenberg

More information about this quote

Topic

Science and religion Science

Author

Adam Smith

Source

The Wealth of Nations

Genre

Economic literature

Language

English

Time

1776 1770s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Wealth of Nations. Vol. 2, London: W. Strahan and T. Cadell, 1776, bk. 5, ch. 1, pt. 2, art. 3.

Current Citation

Smith, Adam. The Wealth of Nations, edited by Edwin Cannan. The Modern Library, 2000, bk. 5, ch. 1, pt. 2, art. 3.

Mercy to the guilty is cruelty to the innocent.

Adam Smith

The Theory of Moral Sentiments

Buy The Theory of Moral Sentiments at Amazon Buy The Theory of Moral Sentiments at Amazon
Read Theory of Moral Sentiments at Project Gutenberg

More information about this quote

Topic

Mercy Punishment Legal theory Moral theory

Author

Adam Smith

Source

The Theory of Moral Sentiments

Genre

Philosophical literature

Statement Type

Proverbs, aphorisms and adages

Language

English

Time

1759 1750s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Theory of Moral Sentiments. London: Andrew Millar/Edinburgh: Alexander Kincaid and J. Bell, 1759, pt. 2, sect 2, ch. 3.

Current Citation

Smith, Adam. The Theory of Moral Sentiments, edited by Ryan Patrick Hanley. Penguin, 2010, pt. 2, sect 2, ch. 3.

All that is solid melts into air, all that is holy is profaned, and man is at last compelled to face with sober senses his real conditions of life, and his relations with his kind.

Karl Marx

The Communist Manifesto

Buy The Communist Manifesto at Amazon Buy The Communist Manifesto at Amazon
Read The Communist Manifesto at marxists.org

More information about this quote

Topic

Life under capitalism Capitalism

Author

Karl Marx

Source

The Communist Manifesto

Medium

Pamphlet

Genre

Political literature Economic literature

Language

German

Time

1848 1840s 19th century

Authentication Score 2

Original Citation

Marx, Karl and Friedrich Engels [published anonymously]. Manifest der kommunistischen Partei [Manifesto of the Communist Party]. London: Gedruckt in der Office der Bildungs-Gesellschaft für Arbeiter, 1848.

Current Citation

Marx, Karl and Friedrich Engels. The Communist Manifesto, translated by Samuel Moore and Friedrich Engels. Penguin Classics, 2002.

Philosophy stands in the same relation to the study of the actual world as masturbation to sexual love.

Karl Marx

The German Ideology

More information about this quote

Topic

Philosophy Changing the world

Author

Karl Marx

Source

The German Ideology

Genre

Historical literature

Language

German

Time

1883 1880s 19th century

Authentication Score 0

Original Citation

Marx, Karl and Friedrich Engels. Die deutsche Ideologie [The German Ideology]. Marx–Engels–Lenin Institute, 1932.

Current Citation

Marx, Karl and Friedrich Engels. The German Ideology. Prometheus, 1998.

Never complain of that of which it is at all times in your power to rid yourself.

Adam Smith

The Theory of Moral Sentiments

Buy The Theory of Moral Sentiments at Amazon Buy The Theory of Moral Sentiments at Amazon
Read Theory of Moral Sentiments at Project Gutenberg

More information about this quote

Topic

Locus of control Self-improvement Personal growth

Author

Adam Smith

Source

The Theory of Moral Sentiments

Genre

Philosophical literature

Statement Type

Advice

Language

English

Time

1759 1750s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Theory of Moral Sentiments. London: Andrew Millar/Edinburgh: Alexander Kincaid and J. Bell, 1759, pt. 7, sect. 2, ch. 1.

Current Citation

Smith, Adam. The Theory of Moral Sentiments, edited by Ryan Patrick Hanley. Penguin, 2010, pt. 7, sect. 2, ch. 1.

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

Adam Smith

The Wealth of Nations

Buy The Wealth of Nations Books 1-3 at Amazon Buy The Wealth of Nations Books 1-3 at Amazon
Read The Wealth of Nations at Project Gutenberg

More information about this quote

Topic

Price fixing Prices Antitrust Conspiracy Corruption

Author

Adam Smith

Source

The Wealth of Nations

Genre

Economic literature

Language

English

Time

1776 1770s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Wealth of Nations. Vol. 1, London: W. Strahan and T. Cadell, 1776, bk. 1, ch. 10, pt. 2.

Current Citation

Smith, Adam. The Wealth of Nations, edited by Edwin Cannan. The Modern Library, bk. 1, ch. 10, pt. 2.

What I did that was new was to prove... That the class struggle necessarily leads to the dictatorship of the proletariat.

Karl Marx

More information about this quote

Topic

Class conflict Communism Nature of history History

Author

Karl Marx

Medium

Letter

Language

German

Time

1852 1850s 19th century

Authentication Score 1

Original Citation

Marx, Karl. Letter to Joseph Weydemeyer. 5 Mar. 1852.

Current Citation

Marx, Karl. "Marx to Joseph Weydemeyer. 5 Mar. 1852." Marx & Engels Collected Works. Vol. 39, International Publishers, 1983.

All systems, either of preference or of restraint, therefore, being thus completely taken away, the obvious and simple system of natural liberty establishes itself of its own accord. Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man, or order of men.

Adam Smith

The Wealth of Nations

Buy The Wealth of Nations Books IV-V at Amazon Buy The Wealth of Nations Books IV-V at Amazon
Read The Wealth of Nations at Project Gutenberg

More information about this quote

Topic

Free market Economic theory Political theory

Author

Adam Smith

Source

The Wealth of Nations

Genre

Economic literature

Language

English

Time

1776 1770s 18th century

Authentication Score 2

Original Citation

Smith, Adam. The Wealth of Nations. Vol. 2, London: W. Strahan and T. Cadell 1776, bk. 4, ch. 9.

Current Citation

Smith, Adam. The Wealth of Nations, edited by Edwin Cannan. The Modern Library, bk. 4, ch. 9.

Economic progress, in capitalist society, means turmoil.

Joseph Schumpeter

Capitalism, Socialism, and Democracy

Buy Capitalism, Socialism, and Democracy at Amazon Buy Capitalism, Socialism, and Democracy at Amazon

More information about this quote

Topic

Economic growth Life under capitalism Capitalism

Author

Joseph Schumpeter

Source

Capitalism, Socialism, and Democracy

Genre

Economic literature Historical literature

Language

English

Time

1942 1940s 20th century

Authentication Score 3

Citation

Schumpeter, Joseph Alois. Capitalism, Socialism, and Democracy. Harper & Brothers, 1942, pt. 1, ch. 3.

We are delighted to find a person who values us as we value ourselves, and distinguishes us from the rest of mankind, with an attention not unlike that with which we distinguish ourselves.

Adam Smith

The Theory of Moral Sentiments

Buy The Theory of Moral Sentiments at Amazon Buy The Theory of Moral Sentiments at Amazon
Read Theory of Moral Sentiments at Project Gutenberg

More information about this quote

Topic

Feeling loved

Author

Adam Smith

Source

The Theory of Moral Sentiments

Genre

Philosophical literature

Language

English

Time

1759 1750s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Theory of Moral Sentiments. London: Andrew Millar/Edinburgh: Alexander Kincaid and J. Bell, 1759, pt. 2, sect. 3, ch. 1.

Current Citation

Smith, Adam. The Theory of Moral Sentiments, edited by Ryan Patrick Hanley. Penguin, 2010, pt. 2, sect. 3, ch. 1.

There is no way of keeping profits up but by keeping wages down.

David Ricardo

More information about this quote

Topic

Wages Labor Profits Zero sum thinking Capitalism Economic theory

Author

David Ricardo

Source

On Protection to Agriculture

Medium

Essay

Genre

Economic literature

Language

English

Time

1822 1820s 19th century

Authentication Score 3

Citation

Ricardo, David. On Protection to Agriculture. London: John Murray, 1822.

How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it, except the pleasure of seeing it.

Adam Smith

The Theory of Moral Sentiments

Buy The Theory of Moral Sentiments at Amazon Buy The Theory of Moral Sentiments at Amazon
Read Theory of Moral Sentiments at Project Gutenberg

More information about this quote

Topic

Man as social animal Empathy Human nature

Author

Adam Smith

Source

The Theory of Moral Sentiments

Genre

Philosophical literature

Statement Type

Opening lines

Language

English

Time

1759 1750s 18th century

Era

Age of Enlightenment

Authentication Score 2

Original Citation

Smith, Adam. The Theory of Moral Sentiments. London: Andrew Millar/Edinburgh: Alexander Kincaid and J. Bell, 1759, pt. 1, sect. 1, ch. 1.

Current Citation

Smith, Adam. The Theory of Moral Sentiments, edited by Ryan Patrick Hanley. Penguin, 2010, pt. 1, sect. 1, ch. 1.

Wonder... And not any expectation of advantage from its discoveries, is the first principle which prompts mankind to the study of Philosophy, of that science which pretends to lay open the concealed connections that unite the various appearances of nature.

Adam Smith

More information about this quote

Topic

Wonder Curiosity Philosophy

Author

Adam Smith

Source

The History of Astronomy Essays on Philosophical Subjects

Medium

Essay

Genre

Scientific literature

Language

English

Time

1790 1790s 18th century

Authentication Score 3

Original Citation

Smith, Adam. "The History of Astronomy." Essays on Philosophical Subjects. London: T. Cadell Jun. and W. Davies/Edinburgh: W. Creech, 1795, sect. 3, para. 3.

Current Citation

Smith, Adam. "The History of Astronomy." Essays on Philosophical Subjects, edited by W. P. D. Wightman. Liberty Fund, 1982, sect. 3, para. 3.

Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.

John Kenneth Galbraith

The Affluent Society

Buy The Affluent Society at Amazon Buy The Affluent Society at Amazon

More information about this quote

Topic

Wealth Downsides of wealth

Author

John Kenneth Galbraith

Source

The Affluent Society

Genre

Sociology Economic literature

Language

English

Time

1958 1950s 20th century

Authentication Score 3

Citation

Galbraith, John Kenneth. The Affluent Society. Houghton Mifflin, 1958, ch. 1, sect. 1.

No famine has ever taken place in the history of the world in a functioning democracy.

Amartya Sen

Development as Freedom

Buy Development as Freedom at Amazon Buy Development as Freedom at Amazon

More information about this quote

Topic

Democracy

Author

Amartya Sen

Source

Development as Freedom

Genre

Political literature Economic literature

Language

English

Time

1999 1990s 20th century

Authentication Score 3

Citation

Sen, Amartya. Development as Freedom. Alfred A. Knopf, 1999, ch. 1.